Summary Box: Stocks slip as debt-limit looms

AP News
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Posted: Jul 20, 2011 4:56 PM
Summary Box: Stocks slip as debt-limit looms

PARTY OVER: One day after the Dow Jones industrial average had its best day this year, the stock market edged lower. Concerns about lifting the U.S. debt limit trumped strong earnings from Apple and a slew of new corporate deals.

MORE iPHONES: Apple Inc. rose 3 percent after the company's income doubled last quarter, beating analysts' estimates. Sales of the company's iPhones quadrupled in Asia.

INDEXES: The Dow fell 16 points, or 0.1 percent, to close at 12,572. The S&P 500 index dropped less than 1 point to 1,326. The Nasdaq fell 12 points, or 0.4 percent, to 2,814.